Singapore’s central bank shows its support for open APIs

The central bank has published 12 sets of data, including those that have been accessed on a regular basis, as APIs on its website.

By Nayela Deeba
Nov. 16, 2016


API

The Monetary Authority of Singapore (MAS) has published 12 sets of data from its Monthly Statistical Bulletin as Application Programming Interfaces (APIs) on its website.

These APIs include frequently assessed data sets on exchange rates and interest rates.

The central bank hopes that the move will enable financial institutions and application service providers to serve their customers better. For instance, a bank can make use of those APIs to minimise the cost of manually keying in MAS' data to benchmark themselves against the industry.

As for application service providers, they can create applications through APIs to compute exchange rate to help companies file tax returns.

"MAS has been encouraging financial industry players to publish open APIs on their datasets, to allow users to connect information and offer innovative solutions. MAS is leading by example through the launch of these 12 APIs. MAS will progressively publish more datasets as APIs in the coming months," said Lawrence Ang, Executive Director, IT Department, MAS

 

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